They have become the broken records of gloom: since late 2022, Morgan Stanley's Mike Wilson and JPM's Marko Kolanovic have peddled a bearish narrative that has been as relentless as it has been wrong, and even when the S&P rose more than 1000 points from its Oct 2022 lows (roughly around the time the formerly permabullish Kolanovic turned into a bear), they have refused to change their tune even as their more nimble (and flip-floppy) Wall Street peers such as BofA's Savita Subramanian and Goldman's David Kostin turned from mega bears to ultra bulls months ago.
Now, as we noted back in February, the rally most likely won't end until Mike and Marko finally capitulate, and so far that has certainly been the case....
Rally won't end until Wilson and Marko turn bullish
— zerohedge (@zerohedge) February 7, 2023
